East Alabama Health Care Authority expects to price $77.34 million health care facilities bonds

By Cristal Cody

Springdale, Ark., March 14 - The East Alabama Health Care Authority plans to price $77.34 million health care facilities bonds on March 19, the issuer said Friday.

The series 2008 B-1 bonds initially will be issued in fixed-rate mode, and the series 2008 B-2 bonds will be issued as term rate.

Frazier Lanier Co. and Merrill Lynch & Co. are the underwriters.

The series 2008 B bonds will be issued to refund the authority's series' 2008 A-3 bonds. The $25 million series A-3 bonds priced Tuesday and will refund the authority's 2006 bonds, said Sam Price, chief financial officer of the East Alabama Health Care Authority.

The authority also priced a $73.325 million bridge loan Thursday to refinance the series 2003-A auction-rate bonds.

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